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of <h1>CGST Act Section 15 Compliance: Suppliers Must Provide CA Certificate or Undertaking for Tax Credit Note Discounts Over INR 5 Lakh.</h1> The circular addresses the mechanism for suppliers to provide evidence of compliance with Section 15(3)(b)(ii) of the CGST Act, 2017, concerning discounts offered through tax credit notes. It clarifies that such discounts are excluded from taxable value only if the recipient reverses the input tax credit. Currently, no portal functionality exists to verify this reversal. Suppliers can obtain a certificate from the recipient, issued by a Chartered Accountant or Cost Accountant, confirming the reversal. For discounts under INR 5,00,000, an undertaking from the recipient suffices. These documents serve as evidence for tax proceedings.
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